On Sept. 1, old ¢1,000 and ¢2,000 bills reach their expiration date

August 31, 2011

This Wednesday is the last day that ¢1,000 and ¢2,000 bills can circulate in businesses and in the general public. New bills of those denominations went into circulation in June.

Marvin Alvarado, treasurer of the Central Bank of Costa Rica (BCCR), explained that on Thursday anyone who receives an old ¢1,000 or ¢2,000 bill can refuse to accept it.

The old bills may be deposited at banks and other financial institutions until Oct. 31.

After this date, the old bills will only be changeable at the BCCR headquarters in San José.

The phasing out process will begin anew this November when new ¢5,000 and ¢10,000 notes make their debut.

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